Iron Hill Brewery could be revived in some locations as judge OKs trademark acquisition
A federal bankruptcy judge has approved the move in conjunction with the takeover of five leases, including one in Philadelphia.
Iron Hill Brewery may get a second life.
Four months after the chain closed nearly 20 locations and filed for bankruptcy, a federal judge has approved the acquisition of Iron Hill’s trademark and intellectual property in conjunction with the transfer of five restaurant leases, including one in Philadelphia, according to court documents filed over the weekend.
The shuttered brewpubs in Center City, Huntingdon Valley, Hershey, Lancaster, and Wilmington are set to be taken over by new tenants, each of which is referred to as “IHB” in the documents. Earlier this month, these tenants registered as business corporations under “IHB” and the name of each location, according to state records in Pennsylvania and Delaware.
Judge Jerrold N. Poslusny Jr. also approved a written agreement that allowed for “Rightlane LLC” to assume Iron Hill Brewery’s trademark and intellectual property, according to the same filing in U.S. Bankruptcy Court in New Jersey.
Jeff Crivello, the former CEO of Famous Dave’s BBQ, was originally set to buy the assets of these five Iron Hill locations, along with those of five others that he has since sold.
On Monday, Crivello confirmed that the assets of his five remaining Iron Hills, along with the brand’s trademark and intellectual property, had been acquired by a buyer called Right Lane.
There are several companies that go by the name Rightlane or Right Lane. Attempts to reach representatives of the Right Lane that was involved in the Iron Hill deal were unsuccessful.
The deal could revive some prime real estate in the Philadelphia region. In Center City, the 8,500-square-foot restaurant was meant to help revitalize the troubled Market East. In Wilmington, Iron Hill had renovated its 10,000-square-foot restaurant on the waterfront.
In December, Crivello had hinted at the possibility of an Iron Hill resurrection, saying, “We’re working with a couple buyers that want to reopen [closed breweries] as Iron Hill.”
» READ MORE: Iron Hill Brewery in West Chester is officially seeking a new tenant
Iron Hill Brewery, which was founded in Newark, Del., developed a loyal following over its nearly 30 years in business. Fellow business owners and brewers considered it a pioneer in the local craft beer scene and a restaurant that helped put suburban downtowns like West Chester and Media on the map. Customers said they loved its family-friendly atmosphere.
In more recent years, Iron Hill opened a production facility in Exton, started canning its beers, and unveiled new locations in Philadelphia, South Carolina, and Georgia. This expansion occurred against the backdrop of the coronavirus pandemic and a nationwide decline in consumers’ thirst for beer and other alcohol.
For Iron Hill, it did not prove a winning strategy. By the time the chain filed for liquidation bankruptcy this fall, it owed more than $20 million to creditors and had about $125,000 in the bank.
Since then, massive shells of former breweries have sat vacant throughout the region. As the case made its way through bankruptcy court, landlords were delayed in their searches for new tenants.
Many locations still remain empty, with no word on what might fill the spaces. But in some spots, there are signs of life.
» READ MORE: P.J. Whelihan’s restaurant group may move into a former Iron Hill Brewery
The company that owns P.J. Whelihan’s may be moving into the former Iron Hill in Newtown, Bucks County.
Last month, PJW Opco LLC, which is registered at the headquarters of PJW Restaurant Group, was approved to take over a lease for an 8,000-square-foot closed Iron Hill in the Village at Newtown shopping center.
In South Carolina, Crivello has sold the assets of the former Iron Hills in Columbia and Greenville to Virginia-based Three Notch’d Brewing Co.
This story has been updated to reflect additional information about Right Lane.